Buying a salvage title might make the initial purchase of a specific car cheap, especially if the car is not yet repaired. If the 'salvaged titled car' is rebuilt than your $$$ investment might be better off if the car was rebuilt by a factory approved service center and I am not speaking of your local body shop, but factory approved service center.
There is one other important factor before considering buying a salvage titled car, that is, your insurance company may not underwrite coverage
for salvage titled or rebuilt cars.
As mentioned State Farm does not consider insuring cars for racing purposes and even on the racing track surface. I asked for more details about what they would cover, my SF agent replied, after checking with SF HQ that they would cover damages up to the racing surface, such as paddock, but not on the racing surface.